One Solution to the Worldwide Financial Crisis

antdon

First… I know the following is very very very simplistic….
It’s meant to be….

Second…. Please give some proper thought before instantly slating……

Third….. Give it more thought…..It could be made to work if all the world economies want so stave off worldwide financial collapse…



First premise…. Currencies are digital (ones and noughts in computers)…. Currency isn’t linked to tangible assets i.e.gold (hasn’t been for years)

So…
If every world economy agreed to ‘Quantative Easing’ on a global scale…..
i.e. Each country prints 50% more currency and uses this to pay debts (to each other)….

Currencies will not devalue against each other (as they have all printed 50% more)

When the debts are repaid…. Each country agrees to remove 5% of the excess currency per year until the original balance is restored…….

IT IS VERY EASY TO SLATE THIS, AND FIND REASONS IT WOULDN’T WORK,
BUT THINK.... SOMETHING HAS TO HAPPEN BEFORE EVERYTHING COLLAPSES

reweird

I'm in favour of a debt jubilee where everyone has say £25k whipped off their outstanding debts.

CLAPTON

basically wouldn't it simply be easier to simply write off all debts (presumably that is your aim?)

CLAPTON

sorry meant to add

and write off everyones savings too

antdon

The problem is global...

So the answer has to be global.....

If economies collapse.... Poverty.... Starvation... WAR

Phils_debt

Put energy prices back down and fuel prices that will solve it people have more money to spend then

antdon

CLAPTON wrote: »

basically wouldn't it simply be easier to simply write off all debts (presumably that is your aim?)

Much easier to pay off the debt than write it off....
No one feels agreeaved if its paid off

UrWntr

antdon wrote: »

First… I know the following is very very very simplistic….
It’s meant to be….

Second…. Please give some proper thought before instantly slating……

Third….. Give it more thought…..It could be made to work if all the world economies want so stave off worldwide financial collapse…



First premise…. Currencies are digital (ones and noughts in computers)…. Currency isn’t linked to tangible assets i.e.gold (hasn’t been for years)

So…
If every world economy agreed to ‘Quantative Easing’ on a global scale…..
i.e. Each country prints 50% more currency and uses this to pay debts (to each other)….

Currencies will not devalue against each other (as they have all printed 50% more)

When the debts are repaid…. Each country agrees to remove 5% of the excess currency per year until the original balance is restored…….

IT IS VERY EASY TO SLATE THIS, AND FIND REASONS IT WOULDN’T WORK,
BUT THINK.... SOMETHING HAS TO HAPPEN BEFORE EVERYTHING COLLAPSES

I only have a very basic understanding of economics, so I probably shouldn't commenting, but here goes.

By printing so much money it's likely that inflation will rocket. Hyperinflation has many undesirable effects and it could be argued that the economies would be in a worse state than they are now.

Just one of the reasons why your idea wouldn't work, I guess.

You could always write a letter to your local MP. Maybe they haven't thought of this before .

antdon

UrWntr wrote: »

By printing so much money it's likely that inflation will rocket. Hyperinflation has many undesirable effects and it could be argued that the economies would be in a worse state than they are now.

.

It would cause hyperinflation if it was released into the general population..... But, I am saying that each government should retain it and pay off it debts with it....

So it would probably have no effect for the general population (other than securing the stability of worldwide financial systems / pensions / investments etc etc)

UrWntr

antdon wrote: »

It would cause hyperinflation if it was released into the general population..... But, I am saying that each government should retain it and pay off it debts with it....

So it would probably have no effect for the general population (other than securing the stability of worldwide financial systems / pensions / investments etc etc)

Don't forget that debts aren't owned by faceless organisations. Debts are owned by the general population.

globalds

UrWntr wrote: »

Don't forget that debts aren't owned by faceless organisations. Debts are owned by the general population.

They were owned by faceless corporations until they became sovereign....Now they are owned by the population.

Seems we missed our chance ...Or more like, the moment, like the money was stolen of us.